Rosneft Starts Production on the Northern Tip of Chayvo
Rosneft starts production on the Northern Tip of Chayvo field on the Sakhalin Island. President of Russian Federation Vladimir Putin led the ceremony in a video link from Gorno-Altaysk. Russian Energy Minister Alexander Novak and head of Rosneft Igor Sechin were present on the Sakhalin Island. A new industry record …
Aker Solutions and Baker Hughes Receive Regulatory Approvals for Subsea Production Alliance
Earlier this year, Aker Solutions and Baker Hughes agreed to form an alliance to develop technology for production solutions designed to boost output, increase recovery rates and reduce costs for subsea fields. The alliance combines Aker Solutions’ strengths in subsea production and processing systems with Baker Hughes’ expertise in well …
BP: Statement on Gulf of Mexico
BP strongly disagrees with the decision issued today by the United States District Court for the Eastern District of Louisiana and will immediately appeal to the United States Court of Appeals for the Fifth Circuit. BP believes that the finding that it was grossly negligent with respect to the accident …
Rosneft and Mongolia Signed an Agreement to Arrange the Training of Mongolian Citizens in Rosneft Partner Universities
Rosneft Chairman of the Management Board Igor Sechin and Minister for Education and Science of Mongolia Luvsannyam Gantumur signed an Agreement to arrange the training of citizens of Mongolia in partner universities of Rosneft. The signing ceremony was led by Russian president Vladimir Putin and the president of Mongolia Tsakhiagiin …
“Permanent Truce” With Ukrainian Rebels
Ukraine’s President Petro Poroshenko says he has agreed with Russian President Vladimir Putin by phone on a “permanent ceasefire” with rebels. “Their conversation resulted in agreement on a permanent ceasefire in the Donbass region [the regions of Donetsk and Luhansk],” his office said. “They reached a mutual understanding on steps …
Halliburton Pays $1.1bn to Cover Macondo Well Settlement
Halliburton announced that it has reached an agreement to settle a substantial majority of the plaintiffs’ class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1 billion settlement, which includes legal fees, is subject to approval …
Baker Hughes Completes Weatherford’s Pipeline and Specialty Service Business
Baker Hughes Incorporated and Weatherford International plc today announced that they have closed the previously announced purchase and sale of Weatherford’s pipeline and specialty services business. The acquisition provides Baker Hughes with an expanded range of pre-commissioning, deepwater and in-line inspection services worldwide. The addition of over 700 process and pipeline specialists to Baker …
Aker Solutions ASA: Aker Solutions Updates Key Financial Information for the New Aker Solutions and Akastor
Aker Solutions is providing updated unaudited financial information for the two companies – the new Aker Solutions and Akastor – that will be formed following the split of the business at the end of September. Previous pro forma financial information was disclosed in the information memorandum of July 11, 2014, and …
Rosneft and ExxonMobil Started Field Studies in the Shelf Area of the Laptev Sea
Rosneft and ExxonMobil started 2D seismic exploration at the Anisinsko-Novosibirsky and Ust-Oleneksky license blocks in the Laptev Sea. 2D seismic exploration work plans to acquire up to 6 thousand linear km, and will last until the end of October. Alongside geophysical research a license wide bathymetric survey of the seabed …
Lukoil – May Cut 2015 CAPEX Due to Political Volatility
Lukoil, Russia’s second-largest oil producer, plans to cut its capital spending because of economic and political volatility, Vice President Leonid Fedun said on Friday. Lukoil has not been directly affected by Western sanctions against Russia over its stance towards Ukraine but is suffering from a spike in international borrowing rates …